BP slashes green energy spending and turns back towards fossil fuels
The move follows pressure from some investors to boost profits at the firm, but has also angered environmental groups.
BP Just Pulled a Massive U-Turn--Oil Is Back, and Investors Are Watching Closely
The energy giant is betting big on fossil fuels again, slashing green investments and setting the stage for a major shake-up.
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BP scraps renewables target, returns to oil and gas in strategy reset
CEO Murray Auchincloss confirmed that 10 major oil and gas projects would be created by 2027, followed by a further eight to 10 projects by the end of the decade. Wednesday’s announcement comes after ...
BP signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy
BP has announced it will slash its renewable energy investments to focus on increasing oil and gas production. As part of ...
BP to slash spending on net zero ventures as it focuses on oil and gas again
British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.
BP cuts renewable investment and boosts oil and gas in strategy shift
BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 ...
BP to spend $10B annually on oil and gas, scaling back renewable energy plans
BP has decided to reduce its investment in renewable energy and increase its spending on oil and gas to $10 billion annually, ...